Business Standard

Prez Biden to extend student loan pause as court battle drags on

President Joe Biden announced that his administration will extend the pause on federal student loan payments while the White House fights a legal battle to save his plan to cancel portions of the debt

Joe Biden

Photo: Bloomberg

AP Washington
President Joe Biden announced Tuesday that his administration will extend the pause on federal student loan payments while the White House fights a legal battle to save his plan to cancel portions of the debt.
"It isn't fair to ask tens of millions of borrowers eligible for relief to resume their student debt payments while the courts consider the lawsuit," Biden said in a video posted on Twitter.
The moratorium was slated to expire January 1, a date that Biden set before his debt cancellation plan stalled in the face of legal challenges from conservative opponents.
Now it will extend until 60 days after the lawsuit is resolved. If the lawsuit has not been resolved by June 30, payments would resume 60 days after that.
The Justice Department last week asked the Supreme Court to examine the issue and reinstate Biden's debt cancellation plan.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Nov 23 2022 | 6:54 AM IST

Explore News